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NAVY CHILDREN SCHOOL,DELHI

SAMPLE PAPER-1
Session 2023-24
Class- XI
Economics (030)
Time allowed: 03 Hours Maximum Marks: 80
General Instructions:
i. This question paper contains two parts:
Part A - Statistics for Economics (40 marks)Part
B – Micro Economics (40 marks).
All questions in both the sections are compulsory. Marks for questions are indicated against each.
ii. Questions No.1 – 10 and 18 – 27 are very short-answer questions carrying 1 mark each. They are
required to be answered in one word or one sentence each.
iii. Questions No. 11–12 and 28 – 29 are short-answer questions carrying 3 marks each. Answers to them
should not normally exceed 60-80 words each.
iv. Questions No. 13 – 15 and 30 – 32 are also short-answer questions carrying 4 marks each. Answers to
them should not normally exceed 80-100 words each.
v. Questions No. 16 – 17 and 33 – 34 are long-answer questions carrying 6 marks each. Answers to them
should not normally exceed 100-150 words each.
vi. Answers should be brief and to the point and the above word limits should be adhered to as far as
possible.

Section –A Statistics for Economics

1 Which is not a method to find arithmetic mean? 1
a) Direct Method
b) Short-cut method
c) Step-deviation method
d) Karl Pearson’s method

The range of simple correlation co-efficient is 1

a) Zero to Infinity
b) Minus One to plus One
c) Minus Infinity to Infinity
d) Zero to one
3 If rxy=0 then the variables X and Y are 1
a) Linearly related
b) Not Linearly related
c) Independent
d) None of these

4 Relation between price and demand is : 1

a) Positive
b) Negative
c) no relationship
d) none of these

5 State the formula of calculation index number under Laspeyres Method. 1

Or
State the formula of calculation index number under Fisher’s Method.
 Read the following hypothetical case study carefully and answers the question numbers 6-9 on the
basis of same.
Statistical data can be obtained from two sources. Primary sources and Secondary sources. The
investigator may collect the data by conducting an enquiry or an investigation. Such data are
called primary data. If the data have already been collected and used by some other agency, they
are called secondary data. They can be obtained either from published sources or from any other
source, for example –a website. Where primary data is more accurate, on the other side,
secondary data saves money, time and energy. The most common type of instrument used in
collecting data is questionnaire. It is a set of questions related to statistical enquiry. While
preparing a questionnaire, we should keep in mind the following points.1. The number of
questions should be minimum as possible. 2. The questions should be related to enquiry. 3. No
mathematical /calculation question should be asked. 4. Pilot survey should be conducted before
mass circulation.

The data which is collected by investigator is called (Primary data/ Secondary data.)
6 1

7 1
Information from a magazine is the example of (Primary data/Secondary data.)
8 data are more reliable.( complete the sentence) 1

9 Which are not characteristics of a good questionnaire? 1

a) Limited no. of questions b) Simple questions
c) Mathematical questions d)Questions related to enquiry

10 When we want to classifying the data in the numerical term, which method of classification of 1
data is used?
(a) Qualitative classification
(b) Quantitative classification
(c) Chronological classification
(d) Conditional classification

11 Calculate median with the help of following data 3

Marks 0-10 10-20 20-30 30-40 40-50

ा

Number of students 3 4 15 6 8
12 3
Write down two merits and demerits of mean.
Or
The following table shows marks in Economics of the students of class XI. Calculate arithmeticmean.
Marks No. of students

ा
2 5
4 10
6 15
8 10
10 5
13 4
Draw a Pie diagram from the following data-
Item of expenditure food Fuel Cloth Misc.
Total expenditure in Rs. 084 064 004 104
OR
1994-95 5.0 9.2 7.0
1995-96 -0.9 11.8 10.3
1996-97 9.6 6.0 7.1
1997-98 -1.9 5.9 9.0
1998-99 7.2 4.0 8.3
1999-2000 0.8 6.9 8.2

The following table shows the estimate sector wise growth rate in GDP
Year Agri and Allied Industry Services
1994-95 5.0 9.2 7.0
1995-96 -0.9 11.8 10.3
1996-97 9.6 6.0 7.1
1997-98 -1.9 5.9 9.0
1998-99 7.2 4.0 8.3
1999-2000 0.8 6.9 8.2
Represent the data as multiple time series graphs.

14 Calculate the correlation coefficient between X and Y.

X 2 3 4 5 6 7 8
15 Y -3 -2 -1 0 1 2 3 ए|4
Find Mode from the following data by the use of Grouping and analysis table
Marks 0-10 10-20 20-30 30-40 40-50 50-60 60-70 70-80
No. of Students 4 10 25 15 23 22 12 3
16 6

A) Define statistics and write the main features of statistics.

 B) ‘The Government and policy makers use statistical data to formulate suitable policies of
economic development’. Illustrate with two example
17 6

Explain the importance of the Consumer Price Index . What are the difficulties in the
construction of Consumer Price Index?
OR
2004 2018
रा रा
A 8 100 10 120
B 4 60 5 80
C 10 20 12 25
D 12 25 15 30
E 3 5 4 6

Calculate the index numbers from the following data using:

(i) Laspeyre's method, (ii) Paasche's method, (iii) Fisher's ideal method:
2004 2018
Quantity ( Price Quantity ( Price
Items
Units) (Rs) Units) (Rs)

A 8 100 10 120
B 4 60 5 80
C 10 20 12 25
D 12 25 15 30
E 3 5 4 6

र Section –B Introductory Microeconomics

18 When output of a firm increases from 20 units to 22 units and Total Revenue increases from Rs.620 to Rs.680
then Marginal Revenue is
a) Rs. 30 b) Rs. 6 c) Rs. 10 )dNone of these
1
19. In the situation of excess Supply, market price tends to
a) Rise b) Fall c) Remains constant d) All of above

20 Give the meaning of price ceiling.

21 State true or false.

Total Production can decrease when marginal production is positive.
22 | 1
Under which market homogeneous products are found?
(choose the correct alternative)
a) Perfect Competition Market b) Monopoly Market
c) Monopolistic Competition Market d) Oligopoly Market.
OR
At zero level of output AC is equal to ………….

23 Cause of upward movement along the supply curve of a commodity is: - 1

a) Decrease in Price of a commodity b) Increase in Price of a commodity
c) Increase in supply of a commodity d) Decrease in supply of a commodity

Read the following hypothetical case study carefully and answers the question numbers 24-
27on the basis of same.
Demand refers to various quantities of a commodity that all the buyers are willing to buy at
given prices during a given period of time. Not only own price of a commodity but also many
other factors also affect the demand of a commodity. Such as price of the related goods-there are
two types of related goods 1. Substitute goods 2. Complementary goods. In these cases, change
in the price of one good also affects the demand of related good. Income of the consumers- on
the basis of income, there are two types of goods-normal good and inferior goods. Economists
say that there is no inferior or normal goods. It depends on the income level of the consumer.
One good may be inferior for one person but the same good may be normal for another person.
Normal goods are those goods whose demand increases with an increase in the income of
consumer and vice –versa. Reverse happens in case of inferior goods. Taste and preference of
the consumer, size of the population and government policy also affect the demand of a
commodity which is known as determinants of demand.

24 There is (direct/Inverse) relationship between price of a commodity and its demand. 1

(Choose the correct option)

25 If the price of X good rises then the demand of Y good also rises then both goods 1
are ( Complementary/Substitute ). (Choose the correct option)

26 Demand for inferior good rises due to (Fall/Rise) in the income of the consumer. 1
(Choose the correct option)

1
27
Which are not determinants of demand of a commodity?
a) Own price of a commodity b) Income of the consumer
b) Nature of a commodity d) Size of population

28 Explain any three features of perfect competition market. 3

OR
Explain the concept of Price rlllf.

29 A consumer consumes only two goods X and Y. Marginal utilities of X and Y are 3 and 4 3
respectively. Price of X and price of Y is Rs. 4 per unit. Is consumer in equilibrium? What will
be further reaction of the consumer? Give reason.

30 What are the relation between Marginal cost and average cost? Explain with help of diagram. 4

31 How does an increase in demand of a commodity affect its equilibrium price and equilibrium 5
quantity? Use a diagram in support of your answer.

32 Explain the meanings of Microeconomics and Macroeconomics with two examples each. 4
OR
Explain the meanings of positive economics and normative economics with two examples each.

33 Explain any three properties of Indifference curve. 6

OR

Define consumer equilibrium. Explain consumer Equilibrium under I C approach

34 Define Production Function. Explain the Law of Variable Proportion with the help of schedule 6
and diagram.